Page:United States Statutes at Large Volume 48 Part 1.djvu/1025

 73d C ONGRESS. SESS. II. CH. 590. JUNE 18, 1934 . (g) T he t erm " applicant" m eans a corpor ation applyin g for the right to establish, operate, and maintain a foreign-trade zone ; (h) The term " grantee " means a corporation to which the priv- ilege of establishing, operating, and maintaining a foreign-trade zone has been granted ; (i) The term " zone " means a "foreign-trade zone " as provided in this Act. SEC. 2 . (a) The Board is hereby authorized, subject to the con- ditions and restrictions of this Act and of the rules and regulations made thereunder, upon application as hereinafter provided, to grant to corporations the privilege of establishing, operating, and main- taining foreign-trade zones in or adjacent to ports of entry under the jurisdiction of the United States. (b) Each port of entry shall be entitled to at least one zone, but when a port of entry is located within the confines of more than one State such port of entry shall be entitled to a zone in each of such States, and when two cities separated by water are embraced in one port of entry, a zone may be authorized in each of said cities or in territory adjacent thereto. Zones in addition to those to which a port of entry is entitled shall be authorized only if the Board finds that existing or authorized zones will not adequately serve the convenience of commerce. (c) In granting applications preference shall be given to public corp orat ions. (d) In case of any State in which harbor facilities of any port of entry are owned and controlled by the State and in which State harbor facilities of any other port of entry are owned and controlled by a municipality, the Board shall not grant an application by any public corporation for the establishment of any zone in such State, unless such application has been authorized by an Act of the legis lature of such State (enacted after the date of enactment of this Act). SEC. 3 . For eign and dome stic merchandi se of every d escription, except such as is prohibited by law, may, without being subject to the customs laws of the United States, except as otherwise provided in this Act, be brought into a zone and may not be manufactured or exhibited in such zone but may be stored, broken up, repacked, asse mble d, d istr ibut ed, sort ed, grad ed, clea ned, mix ed w ith fore ign or domestic merchandise, or otherwise manipulated, and be exported, and foreign merchandise may be sent into customs territory of the United States therefrom, in the original package or otherwise ; but when for eign mer chan dise is so s ent from a z one into cus toms ter ri- tory of the United States it shall be subject to the laws and regula- tions of the United States affecting imported merchandise : Provided, That when the privilege shall be requested the collector of customs shall supervise the unlading of foreign merchandise in the zone, cause such merchandise or any portion thereof to be appraised and the duties liquidated thereon. Thereafter it may be stored or manip- ulated under the supervision and regulations prescribed by the Secretary of the Treasury, and within two years after such unlading such merchandise, whether mixed with domestic merchandise or not, may be sent into customs territory upon the payment of such liqui- dated duties thereon ; and if not so sent into customs territory within such period of two years such merchandise shall be disposed of under rules and regulations prescribed by the Secretary of the Treasury and out of the proceeds the duties shall be paid and the remainder, if any, shall be delivered to the owners of the property : Provided further, That subject to such regulations respecting identity and the safeguarding of the revenue as the Secretary of the Treasury may "Applicant." " Grantee." "Zone ." 999 Estab lishm ent of fo r- eign-trade zones author- ized. Ports of entry. Entit led to one or more zone s. Additional zones. Preference to public. service corpor ations. Approval of applica- tion by State, when harbor facilit ies are State-owned. Forei gn a nd d omes- tic merchandise. Bringing into zone ; not subject to customs la ws. Storing, repacking, etc. Transporting fr om zone to customs terri- tory. Precisos . S uperv isio n of un- lad ing foreign mer. chandise ; appraisal. Storage ; transporting into customs territory within two years. Disposal if not sent. Art icles of dom estic gr owth, manufa cture, etc.